This happened in another share I used to hold - recently. Running up to the options expiry date, pressure was applied and the SP dipped below the option exercise price. Of course, that company lost $5mil as a result.
Seems to be an illogical strategy unless you anted the company to fail OR you wanted to accumulate as many shares at an artificially low SP.
Either way, it's a dog of an act.
BITOB expiry 12 December 2019 ex price 5c, page-14
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